Electronic arts delivered the result of the quarter ending June 30, 2021. It has seemed that the company’s 2022 fiscal year begins with a great start. The Net revenue of Q1 2022 was approximately 1.55 billion dollars, which is above the company’s guidance, which is 1.48 billion dollars, and during the same time, 1.39 billion dollars is brought.
The company’s net income was approximately 204 million dollars, which is above the 70 million dollar EA company is projecting, but a bit low compared to the due of last year for the artificial boost gaming got on in the corona pandemic. This healthy Q1 result of EA resulted in an approximately 5% bump in stock in after-hours trading.
EA’s profit or success in Q1 was exciting. This success did not come from usual suspects; it came from various live services and traditional gaming combinations. According to EA, their Q1 is driven by the two releases with little to no live elements of service…
“We delivered a big beat this quarter, which was primarily driven by outperformance from two high-quality new games — our Mass Effect Legendary Edition and It Takes Two, the second title from our partnership with Hazelight Studios. It Takes Two launched at the end of the prior quarter and showed considerable strength through Q1 2021. Live services also performed better than expected, led by continued growth in Apex Legends.”
